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The Week: Media News - MTV enters gaming arena

MTV Networks, which is owned by Viacom, is to invest more than $500 million (£250 million) in video games based on its music brands. The company is looking at launching online and mobile games, media and editorial content for serious gamers, and console and handheld games. Analysts warned that the strategy is a high-risk one because of the failure rate associated with the gaming industry.